What is annual travel insurance and who needs it?

Annual travel insurance is for people who travel frequently. Taking this instead of single-trip insurance may save money.

09:42 26 June 2013

Travel insurance is a must for people who are travelling within or outside the country either for leisure or business purposes. For those people who travel frequently, there is an annual travel insurance that they can take advantage of.

What is annual travel insurance?

This is basically the same as standard travel insurance; the only difference is that it is applicable to all the travels made within a year from the time that the policy was taken out.

Depending on the needs of the customer, it can cover medical assistance, lost baggage, trip cancellation, etc.

The traveller also has an option to get add-ons depending on his or her needs. For example, they may get additional coverage if they’re into dangerous sports or activities such as mountain climbing, paragliding, etc.

How much is it?

Annual travel insurance can often be cheaper compared to getting single-trip policy each time you go.

It is good to note that different insurers charge different fees however.

Check with them first before you buy. Also, go to comparison websites where you can get quotes from different companies to easily get the cheapest one available out there.